Jobless claims for the latest week came in slightly higher than expected rising to a level of 274K versus expectations of 270K.  In spite of the miss, current levels remain right near post-recession lows, which indicates health on the employment front.

081315 Initial Claims SA

While claims rose slightly this week (from 269K to 274K), the four-week moving average dropped to another post-recession low of 266.25K, which took out the prior low from mid-May.  How low is 266.25K?  To find a time where the four-week moving average was as low as it is now, you have to go back to April 2000, but to find a time where it was lower than it is now, you have to go all the way back to December 1973.

081315 Initial Claims SA 4 WK

On a non-seasonally adjusted basis (NSA), jobless claims rose by 15.8K this week to 239.9K.  For the current week of the year, this is over 80K below the average of 321K since 2000 and, like the 4-week moving average, the lowest level since 1973.

081315 Initial Claims NSA

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